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incidentally, the same time frame necessary to reach a deal on the fiscal cliff. it's wednesday, december 12th, and this is "now." >>> joining me today, msnbc contributor and political editor and white house correspondent for the "huffington post," sam stein holding it down stag style. jane mayer from "the new yorker" is here. bbc world news america anchor and former traveling press secretary for the obama campaign jen socky. this is the speed of the fiscal cliff negotiations. blink and you just might miss exactly nothing. while talks between speaker boehner and president obama over the past three days have been shrouded in secrecy, we've learned there have been two offers put on the table. the white house sent boehner a proposal on monday calling for $1.4 trillion in tax revenue, $200 billion less than the original offer. might that seal the deal? >> the president's called for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >> okay then. the speaker's office responded with a deal of its own. yesterday it included precisely the same amoun
incidentally, the same time frame necessary to reach a deal on the fiscal cliff. it's wednesday, december 12th, and this is "now." >>> joining me today, msnbc contributor and political editor and white house correspondent for the "huffington post," sam stein holding it down stag style. jane mayer from "the new yorker" is here. bbc world news america anchor and former traveling press secretary for the obama campaign jen socky. this is the speed of the...
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. >>> coming up, when taxes are raised as part of the fiscal cliff deal, it means president obama and president lincoln will have one more thing coming. that's in the rewrite. >>> how hard will it be to beat hillary clinton in 2016? evenly one politician has a higher approval rating. we will tell you who coming up. clue. it is not the president. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. stayi
. >>> coming up, when taxes are raised as part of the fiscal cliff deal, it means president obama and president lincoln will have one more thing coming. that's in the rewrite. >>> how hard will it be to beat hillary clinton in 2016? evenly one politician has a higher approval rating. we will tell you who coming up. clue. it is not the president. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise...
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we do think there will be a fiscal cliff deal before year end. i think that could take the s&p to 1500 by year end or early january. but for what the market does from 1500 over the course of next year, i think really depends on the details of the fiscal cliff deal. we're looking to see just how much fiscal drag there will be in 2013 overall from both spending cuts and tax hikes. and also we want to see just the amount of tax hikes. i hope that those tax hikes are not greater than 1% of gdp. >> how much fed stimulus does the market need to hit some of the targets that you're thinking about it might be able to do? >> the 1500 that is our 12-month target would take the fiscal stimulus, take the monetary stimulus that basically folks are talking about, just a fed balance sheet getting above $3 trillion. i don't think necessarily 4 trillion. i think the key to get the s&p well above 1500 is looking at the fiscal policy, the tax hikes in particular, and probably the best litmus test is the dividend tax rate. expectations for the dividend tax rate, a lo
we do think there will be a fiscal cliff deal before year end. i think that could take the s&p to 1500 by year end or early january. but for what the market does from 1500 over the course of next year, i think really depends on the details of the fiscal cliff deal. we're looking to see just how much fiscal drag there will be in 2013 overall from both spending cuts and tax hikes. and also we want to see just the amount of tax hikes. i hope that those tax hikes are not greater than 1% of gdp....
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cliff deal. now he's doing it "gangnam style." watch this. ♪ some people have gone off the cliff on this. we've officially jumped the shark in an attempt to not go over the fiscal cliff. much more of this incredible video coming up. >>> and then even if you don't like facebook as a stock, you may soon own it in your portfolio. we'll tell you why, and whether that's a good thing or not. back in a moment on "the closing bell." we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance. >>> you see the dow and s&p higher but nasdaq lower. apple almost single handedly keeping the composite in the red toda
cliff deal. now he's doing it "gangnam style." watch this. ♪ some people have gone off the cliff on this. we've officially jumped the shark in an attempt to not go over the fiscal cliff. much more of this incredible video coming up. >>> and then even if you don't like facebook as a stock, you may soon own it in your portfolio. we'll tell you why, and whether that's a good thing or not. back in a moment on "the closing bell." we are gathered here today to celebrate...
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cliff deal. take a listen. >> until we hear something from the republicans there's nothing to drafrt, so we can get things done quickly. i think it's going to be extremely difficult to get it before christmas but it done. be >> we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. >> and then there was this moment here at the white house at the press briefing where press secretary jay carney was pressed by reporters to say what it was that speaker boehner and the president were talking about during their meeting here at the white house on sunday. the reporters wanted to know if the specifics being discussion skused in that conversation are separate from the specifics being offered in the public dialogue. take a listen to what jay carney said. >> i'm trying to be incredibly opaque about the distinction. look. >> it's working. >> it's working. >> so at least he's man enough to ad
cliff deal. take a listen. >> until we hear something from the republicans there's nothing to drafrt, so we can get things done quickly. i think it's going to be extremely difficult to get it before christmas but it done. be >> we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. >> and then there was this moment here at the white house at the press...
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tough negotiation realtime. >> now another thing to the fiscal cliff deal? a deal i'm pretty sure is pretty bad whatever it is. not enough. >> but every little bit helps and here's the point. you know, the post office defaulted twice in the last couple of months, erin. august, defaulted $5.5 billion the first time. congress did nothing, fiddled. happened in september. overall last year, they lost $15.9 billion. something's got to be done. do they kick the can to the next year? >> thanks so much, john. >>> talking about default, they default and nobody cares. some day we'll care and going to hurt. >>> next, 22 days if the fiscal cliff and the president's taking the plan on the road but a guest says mr. obama, you are overplaying your hand. >>> and a radio prank blamed for a suicide. the two deejays behind the hoax speak out for the first time. with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male anno
tough negotiation realtime. >> now another thing to the fiscal cliff deal? a deal i'm pretty sure is pretty bad whatever it is. not enough. >> but every little bit helps and here's the point. you know, the post office defaulted twice in the last couple of months, erin. august, defaulted $5.5 billion the first time. congress did nothing, fiddled. happened in september. overall last year, they lost $15.9 billion. something's got to be done. do they kick the can to the next year?...
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this may be the critical week for a deal on the fiscal cliff. general electric ceo jeff immelt will tell us what's at stake in the u.s. and around the world. >>> and we'll talk with the ladies from "the talk" who are spending part of the holidays here in new york city. >>> first, here's a look at today's "eye opener at 8:00." >> the white house meeting here between president obama and speaker boehner occurred after the president extended that invitation to boehner on friday. >> there are 22 days left till the fiscal cliff deadline. there is no deal yet, but the two leading players are now talking face to face. >>> the colorado doctor kidnapped in afghanistan is safe this morning after a daring rescue mission by a team of navy s.e.a.l.s. >> the key to these things is surprise, speed and action. you get in there before they know you're coming. you're to the door before they know what's going on. >>> the upper midwest is digging out from its first major snowstorm. >> minnesota bore the brunt of this weather, some spots getting 16 inches of snow. >>
this may be the critical week for a deal on the fiscal cliff. general electric ceo jeff immelt will tell us what's at stake in the u.s. and around the world. >>> and we'll talk with the ladies from "the talk" who are spending part of the holidays here in new york city. >>> first, here's a look at today's "eye opener at 8:00." >> the white house meeting here between president obama and speaker boehner occurred after the president extended that...
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white house wants at the very least a long-term extension of the debt ceiling in any fiscal cliff deal. the republicans now see the debt ceiling as their own leverage. they're demanding a steep price to include it. who anyways if obama will ultimately go along with something like this. but it is a talk that there is still one crucial way he's at the mercy of republicans. it leaves him with a tough choice. to pay their price in entitlements or play debt ceiling chicken with them again. okay. does it for "the cycle" today.
white house wants at the very least a long-term extension of the debt ceiling in any fiscal cliff deal. the republicans now see the debt ceiling as their own leverage. they're demanding a steep price to include it. who anyways if obama will ultimately go along with something like this. but it is a talk that there is still one crucial way he's at the mercy of republicans. it leaves him with a tough choice. to pay their price in entitlements or play debt ceiling chicken with them again. okay....
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cliff deal. look at the numbers from the "new york times" to see why. there are 234 house republican there's this 113th congress. 85% of them won re-election easily with at least 55% of the vote. and almost all were re-elect we'd the promise not to raise taxes. so what is their obligation to their voters and can john boehner make a switch palatable? i'm joined now by former ohio governor ted strickland and former campaign manager for mike huckabee chip satsman. good morning. >> good morning. >> what do the lawmakers owe their constituents on the promise not to raise tax she's. >> i think they owe the country. good governance. and obviously every member of congress has an obligation to their particular district and their particular constituents, but they also have a larger obligation, i believe, to the well-being of the country as a total. and so we are in a situation where some difficult decisions have to be made, but i believe the well being of the country must take precedent over every other co
cliff deal. look at the numbers from the "new york times" to see why. there are 234 house republican there's this 113th congress. 85% of them won re-election easily with at least 55% of the vote. and almost all were re-elect we'd the promise not to raise taxes. so what is their obligation to their voters and can john boehner make a switch palatable? i'm joined now by former ohio governor ted strickland and former campaign manager for mike huckabee chip satsman. good morning. >>...
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. >>> coming up, when taxes are raised as part of the fiscal cliff deal, it means president obama and president lincoln will have one more thing coming. that's in the rewrite. >>> how hard will it be to beat hillary clinton in 2016? evenly one politician has a higher approval rating. we will tell you who coming up. clue. it is not the president. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't rep
. >>> coming up, when taxes are raised as part of the fiscal cliff deal, it means president obama and president lincoln will have one more thing coming. that's in the rewrite. >>> how hard will it be to beat hillary clinton in 2016? evenly one politician has a higher approval rating. we will tell you who coming up. clue. it is not the president. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been...
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if silence is golden maybe we'll have a deal on the fiscal cliff crisis sometime soon. there's 21 days left before the tax hikes and spending cuts kick in to send us over the cliff or down that gentle slope as some like to call it. congress is supposed to break for the holidays, nan? >> the last officially scheduled day for the house of representatives is december 13th. >> so friday. but we're on call. >> i don't think you'll be home permanently december 13th. >> we're ready for that. >> here's where things stand the president was touting his tax plan to truck plant workers in michigan. john boehner were quietly conducting behind the scenes talks on capitol hill. could be a sign of progress, but the blame game and finger pointing has stopped suddenly. we want to talk about this more with mayor rahm emmanuel and the president of the united states hispanic chamber of commerce, nice to have you both with us. >> good morning. >> good morning. >> mr. mayor you've been in the room with the president negotiating "the washington post" writes this today. "obama could be a ruthle
if silence is golden maybe we'll have a deal on the fiscal cliff crisis sometime soon. there's 21 days left before the tax hikes and spending cuts kick in to send us over the cliff or down that gentle slope as some like to call it. congress is supposed to break for the holidays, nan? >> the last officially scheduled day for the house of representatives is december 13th. >> so friday. but we're on call. >> i don't think you'll be home permanently december 13th. >> we're...
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cliff deal. are we ready to go? let's find out how you should be investing. everybody's looking at me like i should not be saying something right now. okay. everybody's there. mandy? >> okay. joining us now we have a cast of thousands. dan mcmahon from raymond james. nathan backrat. and our very own rick santelli. thank you for joining us today. nathan, let's start with you. so 13 and a half trading days left. what do you do with those to make it worth it? >> y better have the right allocation to begin with. in the meantime guess what's gotten cheaper? europe. >> germany and france at two-week highs last week. >> there's a few countries over there. i like the relative value there. they've got a printing press. they're going to open that. what i learned is you don't fight the tape and don't fight a bailout. i've got about 30% off this country -- outside of this country. and added 10% in emerging markets. now i think that we've had a bloodless revolution again in china, i think it's a great place.
cliff deal. are we ready to go? let's find out how you should be investing. everybody's looking at me like i should not be saying something right now. okay. everybody's there. mandy? >> okay. joining us now we have a cast of thousands. dan mcmahon from raymond james. nathan backrat. and our very own rick santelli. thank you for joining us today. nathan, let's start with you. so 13 and a half trading days left. what do you do with those to make it worth it? >> y better have the right...
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stocks rallying on the on the missile that perhaps we are nearing a fiscal cliff deal. coming up we'll, find out from key lawmakers in the fiscal cliff negotiations how we can actually get a deal done before the deadline. representative chris van hollen, lynn jenkins and javier becerra as well as sore orrin hatch with us. we'll hear from former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour, really from the get-go. optimism about the cliff talks and senator harry reid made some comments this afternoon that put a damper on that real. we've lost about 30 points. in that time. up 74 on the dow at 13,244. the nasdaq is doing well today, up 32 points. more than a 1% gain, although it is off its highs of the day at 3019, and the s&p 500 index is 8 plus points at 1426. the word on the street is because of the fiscal cliff, some investors are actually selling the winners, the winning stocks, and they are holding on to the poor performers, the opposite what have they have been doing the
stocks rallying on the on the missile that perhaps we are nearing a fiscal cliff deal. coming up we'll, find out from key lawmakers in the fiscal cliff negotiations how we can actually get a deal done before the deadline. representative chris van hollen, lynn jenkins and javier becerra as well as sore orrin hatch with us. we'll hear from former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour,...
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coming up on closing bell, stocks rallying about a fiscal cliff deal. we'll be speaking to some of the key players in washington. congressman chris van hollen and javier becerra. orrin hatch will tell us what it will take to reach a compromise. alan greenspan explains why a fiscal clif-related recession would be a small price to pay for much needed fiscal policy reform. all that and more. what's been happening on wall street today as we get to a final hour of trading at the top of the house on closing bell. maria in washington, i'm in new york. we'll see you then. >> we will indeed. sounds like an exciting show. thanks, bill. >> mandy, have to break in here, some breaking news on fiscal cliff. heard what bill said. some headlines out of harry reid which may not be good news for the market. harry reid saying the democratic party will not put an offer of spending cuts on the table for the gop. reid also adding he does not think we will have a deal on the fiscal cliff before at least christmas if not longer. so think about that. harry reid saying no, no, n
coming up on closing bell, stocks rallying about a fiscal cliff deal. we'll be speaking to some of the key players in washington. congressman chris van hollen and javier becerra. orrin hatch will tell us what it will take to reach a compromise. alan greenspan explains why a fiscal clif-related recession would be a small price to pay for much needed fiscal policy reform. all that and more. what's been happening on wall street today as we get to a final hour of trading at the top of the house on...
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how washington to deal with the fiscal cliff and what will happen if the white house and congress fail to find a solution capital accounts next on r.t. . good afternoon welcome to capital account i'm laurin mr here in washington d.c. these your headlines for friday december seventh two thousand well it's jobs day u.s. jobs numbers for november came in better than expected with the b.l.s. report showing one hundred forty six thousand jobs were added much more than expected and the unemployment rate fell to seven point seven percent but why did the rate went down because more people left the labor force and when you look at the lack of exciting increases in wages that also comes out in this report what should we really make of it all and what does it portend for housing which our guest barry habib mortgage exact thinks has been a bright spot for the economy we'll hear from them plus brace yourself the f one c meets next week and some are forecasting the fed may announce more bond purchases after they do so so what is the antidote to unhinge money printing and centrally planned price fixi
how washington to deal with the fiscal cliff and what will happen if the white house and congress fail to find a solution capital accounts next on r.t. . good afternoon welcome to capital account i'm laurin mr here in washington d.c. these your headlines for friday december seventh two thousand well it's jobs day u.s. jobs numbers for november came in better than expected with the b.l.s. report showing one hundred forty six thousand jobs were added much more than expected and the unemployment...
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we may get that certainty as soon as we get a fiscal cliff deal, maybe january or february by the time we know what will happen. that could work. if everybody knows money is cheap to get, they'll start to invest it. >> nafs my next question real quick here. looking at this move by the fed, does this help either side with the case of whether or not to go off the fiscal cliff? >> not really. i think those sides are dug in, and the thing to make them decide one way or another is entirely political as opposed to economic. we know it will do economic damage, but i'm not sure that's motivating anybody's decisions right now. i wish it were. >> thank you, ali. >>> just ahead, i continue my conversation with richard branson. he has a bit of advice for the republican party on how to appeal to more people. filling the air ♪ ♪ from ev, [ female announcer ] chex party mix. easy 15-minute homemade recipes you just pop in a microwave. like caramel chocolate drizzles. happier holidays. chex party mix. happier holidays. social security are just numbers thinkin a budget.d... well, we worked hard for
we may get that certainty as soon as we get a fiscal cliff deal, maybe january or february by the time we know what will happen. that could work. if everybody knows money is cheap to get, they'll start to invest it. >> nafs my next question real quick here. looking at this move by the fed, does this help either side with the case of whether or not to go off the fiscal cliff? >> not really. i think those sides are dug in, and the thing to make them decide one way or another is...
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deal. >>> lawmakers trying to solve the fiscal cliff issue. police trying to solve a burglary at the home of california congressman darrel issa. according to reports, more than 50 pieces of jewelry worth about $100,000 were stolen from the congressman's home on november 29th. watches, earrings, rings, bracelets involved and what issa spokesperson calls irreplaceable family air looms. >>> to the jobs report today. super storm sandy slammed the east coast but it looks like it didn't have all that much impact on the labor market. november jobs numbers coming in much stronger than expected. steve leisman who's had a very busy week here to talk about the numbers and put it in context for us. >> hi, sue. no substantive sandy in the jobs numbers. the lack of sandy effect has us scratching our heads, what they said. i just got off the phone with the guy who's the head of doing the numbers, labor numbers at the bls. he walked me through the rather extensibilive process they did fine out if there was any sandy effect, including sampling of businesses in
deal. >>> lawmakers trying to solve the fiscal cliff issue. police trying to solve a burglary at the home of california congressman darrel issa. according to reports, more than 50 pieces of jewelry worth about $100,000 were stolen from the congressman's home on november 29th. watches, earrings, rings, bracelets involved and what issa spokesperson calls irreplaceable family air looms. >>> to the jobs report today. super storm sandy slammed the east coast but it looks like it...
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cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to an end in central america, we think. wealth editor robert frank has the latest details on the arrest of john mcafee. >> ye
cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated...
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and if they can come to a deal, then i think we can avoid the fiscal cliff. >> and do you think that -- somebody put this idea out here. and this idea is really vile. i'll use the right word. i think you'll agree. here's the idea. let's go off the cliff, just for purely political reasons, nothing happens immediately, and then, you know, you all come back in session in early january, and you give the middle class a tax cut, and you give the wealthy a tax cut, they'll pay more than they're paying now but less than $39.6. is that possibly what both sides are angling to? >> you use the word vile and i'll echo that word. i think going over the cliff is a sdasster. i think social leaders negotiate the best deal they possibly can, and let's try and get this done. i would not be for playing a game of chicken, if you will, or trying to fool the american people who are pretty dad gum smart when it comes to these sorts of things. >> do you fear the right wing of your own party, a wing that says any revenue, as you heard jim demint say, no revenue, not part of the deal. do you think that's going
and if they can come to a deal, then i think we can avoid the fiscal cliff. >> and do you think that -- somebody put this idea out here. and this idea is really vile. i'll use the right word. i think you'll agree. here's the idea. let's go off the cliff, just for purely political reasons, nothing happens immediately, and then, you know, you all come back in session in early january, and you give the middle class a tax cut, and you give the wealthy a tax cut, they'll pay more than they're...
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on the fiscal cliff. so is the speaker losing the fiscal cliff pr battle? the american people are blaming him. >> well, the speaker's trying to have a conversation with the president about how to solve the nation's problems. and the president is out on the campaign trail. the president prefers to campaign trail to the hard and rough road of true leadership in washington, d.c. i kind of think the president may have overplayed his hand a little bit here. if he were smart, the american people would be a little more expecting of him to be in washington to fix this before christmas. we're all a little tired of this campaign drama. i was looking at pictures today of the president in michigan. i thought, wait a minute, i thought the election was over. people are going to see through this. you can't sell them short. they'll figure it out. >> to ben's point, we know americans support raising taxes on people who make over $250,000. that's not many people and most people support other people paying more taxes. so mo
on the fiscal cliff. so is the speaker losing the fiscal cliff pr battle? the american people are blaming him. >> well, the speaker's trying to have a conversation with the president about how to solve the nation's problems. and the president is out on the campaign trail. the president prefers to campaign trail to the hard and rough road of true leadership in washington, d.c. i kind of think the president may have overplayed his hand a little bit here. if he were smart, the american...
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cliff. and concerns that a deal won't be done and also some less than ideal jobs data that from jobless claims so factoring in the latest jobs report which you say is kind of a disappointment how would you define your current housing outlook on housing and so-called recovery. the basics for a great housing market are there you've got a tremendous amount of pent up demand homes are priced appropriately now underwriting is good and rates are phenomenal six million people between the ages of twenty five and thirty four living at home when you compare him to rents the cost of a home is very favorable but there are a lot of wildcards out there first off the mortgage deduction is one that's now in jeopardy it's going to play well in the media and play well for people say we want to move the mortgage deduction why only twenty six percent of taxpayers actually utilize the mortgage deduction so you know if you're a lawmaker you could say well my consider my constituency might be able to live with thi
cliff. and concerns that a deal won't be done and also some less than ideal jobs data that from jobless claims so factoring in the latest jobs report which you say is kind of a disappointment how would you define your current housing outlook on housing and so-called recovery. the basics for a great housing market are there you've got a tremendous amount of pent up demand homes are priced appropriately now underwriting is good and rates are phenomenal six million people between the ages of...
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now congress will come back to work next week hopefully to get a fiscal cliff deal. >> maybe the movie "lincoln" will inspire senators to work together. a special screening is scheduled for december 19th. senate aides said they will not screen the movie on the senate floor but somewhere else. >> michelle obama has said over and over again she never wants to run for office but a new poll shows her leading senator mark kirk in a very hypothetical matchup. the illinois republican had a stroke last year. >> tonight the entire obama family will gather around the christmas tree. it just happens to be the national christmas tree. it will take place at 5:00 eastern time. >> if you read only one thing this morning, maybe you're already thinking about your new year's resolution to get in better shape. how could you resist this headline? my must read is courtesy of prevention magazine. it's on facebook/jansingco. yep, they're real. we've got more rollbacks on toys all december. wait, was that real? [ male announcer ] this christmas, get the hottest brands and rollbacks on the season's hottest toy
now congress will come back to work next week hopefully to get a fiscal cliff deal. >> maybe the movie "lincoln" will inspire senators to work together. a special screening is scheduled for december 19th. senate aides said they will not screen the movie on the senate floor but somewhere else. >> michelle obama has said over and over again she never wants to run for office but a new poll shows her leading senator mark kirk in a very hypothetical matchup. the illinois...
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optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so many basis points above the germans on their hourly bulletins. that was one of the reasons why at the height of it berlusconi was kicked out of power. he's saying now this is a total calm. italia
optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the...
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john boehner said a fiscal cliff deal is no closer now than it was a week ago. nancy pelosi called for more urgency. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. >> this is a moment of truth. the clock is ticking. christmas is coming. the goose is getting fat, but in many homes across america it's a very, very lean time. >> the goose is getting fat. this was the latest salvo in a week of ups and downs in negotiations as both sides engaged in a tug-of-war over tax rates and spending cuts. >> i was just flabbergasted and said you can't be serious? right now i would say we're nowhere. >> there shouldn't be anything offered in public. the president, speaker boehner in a room and nobody come out until it's solved. >> we have to see the rates on the top 2% go up, and we're not going to get a deal with it. >> the problem with the republican proposal is it does raise taxes. >> if they do not make this deal on tax rates for the top 2%, they're
john boehner said a fiscal cliff deal is no closer now than it was a week ago. nancy pelosi called for more urgency. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. >> this is a moment of truth. the clock is ticking. christmas is coming. the goose is getting fat, but in many homes across america it's a very, very lean time. >> the goose is getting fat....
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>>reporter: well, folks think there is time for enough of a deal but stopped short of a fiscal cliff but some think that has to happen this week. at a daimler truck stop the president didn't mention the upper income tax hike he is demanding but warned what will happen if congress doesn't extend the middle-class tax cuts both sides want. >> people will spend nearly $200 billion less than otherwise they would spend. consumer spending will go down. that means you have less customers, businesses get fewer profits, they hire fewer workers, you go in a downward spiral. wrong idea. >>reporter: the president criticized the right-to-work deal that michigan's republican legislature is set to pass calling it a right to make less money and says it doesn't have anything to do with economics but licks. >>shepard: does the fact that the two men who are the last two to meet on this matter, met together and did not come out bellyaching about the other side, is that positive or am i looking for a silver lining? >>reporter: it could be a sign of progress. there are signs from the people on capitol hill
>>reporter: well, folks think there is time for enough of a deal but stopped short of a fiscal cliff but some think that has to happen this week. at a daimler truck stop the president didn't mention the upper income tax hike he is demanding but warned what will happen if congress doesn't extend the middle-class tax cuts both sides want. >> people will spend nearly $200 billion less than otherwise they would spend. consumer spending will go down. that means you have less customers,...
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on the fiscal cliff. the house majority and minority leaders issued a clear message today and yesterday don't book your plane tickets. >> we don't know if we would be home for the rest of hanukkah or christmas. let's really get real about this if we're going to have a solution, and let's stay here and sit at that table. >> we've said we're committed to staying here. we're going to stay here right up until christmas eve throughout the time and period before the new year. >> there are no talks scheduled today between the president and house speaker boehner. meanwhile, fed chairman ben bernanke, the man who coined the term fiscal cliff, urgently warned that just approaching the edge is causing damage. >> why is it that consumer confidence dropped so sharply this week? why is it that small business confidence dropped so sharply? why are the markets volatile, even though we're not yet even reached the point of the fiscal cliff potentially kicking in? it's already affecting business investment and hiring decisi
on the fiscal cliff. the house majority and minority leaders issued a clear message today and yesterday don't book your plane tickets. >> we don't know if we would be home for the rest of hanukkah or christmas. let's really get real about this if we're going to have a solution, and let's stay here and sit at that table. >> we've said we're committed to staying here. we're going to stay here right up until christmas eve throughout the time and period before the new year. >>...
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to sdus fiscal cliff deals. a deal was not sealed. we're 20 days from the fiscal cliff. time becoming critical. congress going on christmas break two days from now, shannon travis following the snipping and deal making in washington. shannon, what's in the proposals? do you know? >> zoraida, this will be confusing for viewers. let's try to break this down as simple as possible. president obama and house speaker john boehner spoke yesterday evening after an offer from the white house and a counteroffer from republicans. the white house offer, the white house wanted 1.6 trillion in new revenue in terms of increased tax occasion -- reducing -- excuse me. increasing the rates on the wealthiest americans. now they are down to 1.4 trillion on monday. on tuesday, the republicans responded. we don't have a whole lot of details on that but bainary's office saying, you know what, white house? show us cuts to entitlement spending before we talk about entitlement reform. amid that back drop, since nothing is firm just yet. republicans and democrats are obviously still as you mention
to sdus fiscal cliff deals. a deal was not sealed. we're 20 days from the fiscal cliff. time becoming critical. congress going on christmas break two days from now, shannon travis following the snipping and deal making in washington. shannon, what's in the proposals? do you know? >> zoraida, this will be confusing for viewers. let's try to break this down as simple as possible. president obama and house speaker john boehner spoke yesterday evening after an offer from the white house and a...
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on the fiscal cliff, nbc's first read team says any deal is fragile. the biggest obstacle right now. >>> "nour business" entrepreneur of the week. lauren wanted to introduce kimchi to mainstream america. with the former skills as a marketer, she created mother-in-law's kimchi using nonethic packaging to appeal to a mass market. for more, watch "your business" this sunday morning on msnbc. sometimes what we suffer from is bigger than we think ... like the flu. with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for treating the flu in adults and children one year and older whose flu symptoms started within the last two days. before taking tamiflu tell your doctor if you're pregnant, nursing. have serious health conditions, or take other medicines. if you develop an allergic reaction, a severe rash, or
on the fiscal cliff, nbc's first read team says any deal is fragile. the biggest obstacle right now. >>> "nour business" entrepreneur of the week. lauren wanted to introduce kimchi to mainstream america. with the former skills as a marketer, she created mother-in-law's kimchi using nonethic packaging to appeal to a mass market. for more, watch "your business" this sunday morning on msnbc. sometimes what we suffer from is bigger than we think ... like the flu. with...
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our next guest says even if a compromise is reached on a fiscal cliff deal, that's a big if, serious problems with the economy will remain and it's time to ask the tough questions about the middle class. joining us now, lindsey piegza, economist with ftn financial. lindsey, as always thanks for being here. you say businesses and consumers will face hash realities next year regardless of what washington does on the fiscal cliff. what are those realities? >> right now everyone is very much focused getting a compromise done but even if we get the president's plan, even if we get the republican's plan very likely that shaves growth down to under 1% for the first half of the year. that is dismal outlook regardless whether or not we come to a compromise. that is much more positive outlook than falling off the cliff outright but still doesn't set us up for long-term growth. plus neither one of these proposes asks the tough questions of the middle class saying long term do we want to take on a bigger tax burden or do we want to cut the social programs? the conversation to me seems very disin
our next guest says even if a compromise is reached on a fiscal cliff deal, that's a big if, serious problems with the economy will remain and it's time to ask the tough questions about the middle class. joining us now, lindsey piegza, economist with ftn financial. lindsey, as always thanks for being here. you say businesses and consumers will face hash realities next year regardless of what washington does on the fiscal cliff. what are those realities? >> right now everyone is very much...
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we have all the conversations about hundreds of billions and cutting from medicare to deal with the fiscal cliff right now but your point is, if we can get the cost of health care under control we don't need to cut anything right now and there are actually you're saying pilot programs in place thanks to the affordable care act aimed to cut the cost of health care. can you get in to the programs are and how much promise they hold for over the next few years bringing that cost down? >> sure. i mean, you know, it's funny. there's a myth out there that affordable care act, obama care, maybe insurance to a lot of people and didn't do anything about costs. nothing could be further from the truth. it took a lot of money out of health care costs. some of it cutting corporate waste. spending less money to pay private insurance companies offering alternative coverage to medicare patients and a lot of it is pilot programs, experim t experiments. we have lots of ideas for reducing the cost of health care. an example, you know, what if we told hospitals, if you don't run a clean hospital and patients a
we have all the conversations about hundreds of billions and cutting from medicare to deal with the fiscal cliff right now but your point is, if we can get the cost of health care under control we don't need to cut anything right now and there are actually you're saying pilot programs in place thanks to the affordable care act aimed to cut the cost of health care. can you get in to the programs are and how much promise they hold for over the next few years bringing that cost down? >>...
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it's coming under pressure as part of a broader fiscal cliff deal. there's an article on the front page of today's "wall street journal" that highlights other ways people are trying to take advantage of the certainty over the final few weeks of 2012. some of the examples they cite are people said to be accelerating large medical expenses for this year and selling appreciated stock in some cases even prepaying their mortgages so they can make sure they get the mortgage interest deduction. and, bob, you think -- for a lot of people that won't matter? >> you have the amt. so if you take excessive deductions, they just disappear. which is one of the things about all of this about limiting these deductions which is kind of silly because the amt does it in the aggregate. and of course the amt is grabbing more and more people and it's one of the things they want to reform, but if they reform it, they have to raise taxes someplace else. so it's confusing. >> but that's the worst part of it, a simpler tax code that someone could actually understand and now ho
it's coming under pressure as part of a broader fiscal cliff deal. there's an article on the front page of today's "wall street journal" that highlights other ways people are trying to take advantage of the certainty over the final few weeks of 2012. some of the examples they cite are people said to be accelerating large medical expenses for this year and selling appreciated stock in some cases even prepaying their mortgages so they can make sure they get the mortgage interest...
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what kind of expectations are out there on this fiscal cliff story? we seem to feel that there's a deal in the air. why else do we see such optimism today? rick? >> oh, for me? i'm sorry. i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues, but i'll tell you this. i think that all these stories aren't necessarily going lead us to the truth. i personally have a very size way i'm approaching this. the president is supposed to leave for a 21-day vacation in hawaii on december 17th. where he is on december 18th will tell me, and i think the markets will pay attention. i find it hard to believe, and i agree with bill and many, who are very not amused by the house taking their long weekend. i'm sure that the president would have no intentions of leaving until these issues are resolved. i think the market is bei
what kind of expectations are out there on this fiscal cliff story? we seem to feel that there's a deal in the air. why else do we see such optimism today? rick? >> oh, for me? i'm sorry. i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues,...
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are still far away from reaching the deal on the fiscal cliff, you'll be shocked to see what they did agree on. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> research in motion shares keep rallying. that stock more than doubling since hitting a nine-year low back in september when many thought the company might not survive. bertha coombs at the nasdaq market site with more on this. bertha? >> it's a real comeback kid, the comeback with the government that customs and immigration department is saying that they are going to try out the blackberry 10 after saying they would be the. all things reporting this afternoon, and part of the re
are still far away from reaching the deal on the fiscal cliff, you'll be shocked to see what they did agree on. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh......
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the on the fiscal cliff is not reefed. while negotiations appear to be at a standstill, we know president obama and house speaker john boehner finally spoke by phone yesterday. the first conversation in a week. we don't know what they talked about or how long they spoke, because both men agreed to keep details of the conversation between the two of them. meanti meantime, democrats are digging in heels saying no deem if republicans refuse to let go of tax cuts for the wealthy. >> it's really time for republicans to face reality. i would hope the house of representatives would look closely at what's going on with senators coming out saying please, mr. speaker, do something about protecting the middle class. >>
the on the fiscal cliff is not reefed. while negotiations appear to be at a standstill, we know president obama and house speaker john boehner finally spoke by phone yesterday. the first conversation in a week. we don't know what they talked about or how long they spoke, because both men agreed to keep details of the conversation between the two of them. meanti meantime, democrats are digging in heels saying no deem if republicans refuse to let go of tax cuts for the wealthy. >> it's...
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it has everything to do about the fiscal cliff. and it's happening behind closed doors. and what is said in public does not seem to clear anything up. >> the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff, and the more american jobs are placed in jeopardy. >> so what's really going on behind the scenes? earlier i spoke with republican senator jeff sessions, who's been asking the same question, and i asked him how much he, as the ranking member of the senate budget committee, actually knows about what's going on. >> very little. almost nothing, frankly. i mean, i learned from sources that the speaker was disappointed and things were not moving forward as well as he seemed to have indicated right there in those public remarks. but otherwise, really, we don't know. and the people that are losing in this process, this secret process, are the american people. they'll be the ones asked to pay more taxes. they may be the ones that are asked to tighten their belts. and they need to know what the choices are and what we're wrest
it has everything to do about the fiscal cliff. and it's happening behind closed doors. and what is said in public does not seem to clear anything up. >> the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff, and the more american jobs are placed in jeopardy. >> so what's really going on behind the scenes? earlier i spoke with republican senator jeff sessions, who's been asking the same question, and i asked him how much he, as the...
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. >> the fiscal cliff deal is really about tax hike, that's the primary component is about the tax hikes. the spending is a very little percentage. we're focusing on a deal rather than the larger economic issues. i think that's the problem, by talking fiscal cliff, it's distracting us from the underlying issue, and nobody is talking about that. charles: that's the war that the president won. that's what you are saying, the president has already established that narrative and the republicans may have missed their opportunity to counterargue. >> he did ask for more revenue, the question is how does he get it, whether higher rates or simply deductions and such? stuart: you call it as it is. dan, thank you very much. >>> john stossel said something that offended christians two weeks before christmas. we will tell you what he said and i'm going to talk to him about it, harshly, next. ♪ and heaven and nature sing ♪ joy to the world ♪ the savior reigns ♪ making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take acti
. >> the fiscal cliff deal is really about tax hike, that's the primary component is about the tax hikes. the spending is a very little percentage. we're focusing on a deal rather than the larger economic issues. i think that's the problem, by talking fiscal cliff, it's distracting us from the underlying issue, and nobody is talking about that. charles: that's the war that the president won. that's what you are saying, the president has already established that narrative and the...
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on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about this. jared, it seems like things have gotten quieter. do you think that's the case? is that a good
on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans....
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we've got a fiscal cliff meeting deal here sitting t 50% that we get a deal done. where would you put it at? >> i'm probably more optimistic about that. i'm probably more in the 60/40 range. the speaker's a good negotiator. i think honestly from position of strength on a lot of these things. i think the president takes his job seriously too. going over the fiscal cliff is not good for anyone. it bothers me sometimes if i hear people on both the left and the right entertain this is something that might be good politics. may be good politics for somebody, but it's bad economics for the american economy and more important for people looking for a job and people trying to hold on to a job. >> last question. i want to go back to the premise that you and other republican members of the house would be willing to allow that top tier tax rate to go higher. you know, speaker boehner's argument all this time is that it doesn't effect just those top-earning americans, but it also effects the small business owners in this country. the job creators in this country. >> the speake
we've got a fiscal cliff meeting deal here sitting t 50% that we get a deal done. where would you put it at? >> i'm probably more optimistic about that. i'm probably more in the 60/40 range. the speaker's a good negotiator. i think honestly from position of strength on a lot of these things. i think the president takes his job seriously too. going over the fiscal cliff is not good for anyone. it bothers me sometimes if i hear people on both the left and the right entertain this is...
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are tea party lawmakers now ready to deal and avoid the fiscal cliff? capella university understands rough economic times have led to an increase in clinical depression. drug and alcohol abuse is up. and those dealing with grief don't have access to the professional help they need. when you see these issues, do you want to walk away or step up? with a degree in the field of counseling or psychology from capella university, you'll have the knowledge to make a difference in the lives of others. let's get started at capella.edu share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. >>> tea party perhaps isn't what it used to be. here is cnn's jim acosta. >> reporter: for the tea party, change is brewing on capitol hill. florida republican alan west, who rode the tea party wave into congress two years ago, only to be swept out in november, has already lost his office, which is being prepped by painters for its new oc
are tea party lawmakers now ready to deal and avoid the fiscal cliff? capella university understands rough economic times have led to an increase in clinical depression. drug and alcohol abuse is up. and those dealing with grief don't have access to the professional help they need. when you see these issues, do you want to walk away or step up? with a degree in the field of counseling or psychology from capella university, you'll have the knowledge to make a difference in the lives of others....
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there was no fiscal cliff deal six months from now and still no deal. so i'm not sure why we think there's more uncertainty. i would say if you really think about it the president has a lot of ways to delay the impact. for example, our withholding table don't have to get change order january 1. even if you haven't struck a deal, you don't adjust the withholding tables. for now you can delay the pain. so there is wiggle room in terms of when the impact has to be felt. >> but is there where wiggle rom the investing world who looks at the united states and says these guys are a bunch of keystone cops. this cost us with the last round of negotiations back in the summer of 2011 when the debt rating agencies said if you can't find some civil way to talk to each other, we're going to cut your rating. >> it was nice seeing the ratings agencies make a comments on u.s. democracy. that was helpful. i think, though, is there some deal that can be struck, yes. when does it get done, i think it's probably less important to be better before year end. equity markets ar
there was no fiscal cliff deal six months from now and still no deal. so i'm not sure why we think there's more uncertainty. i would say if you really think about it the president has a lot of ways to delay the impact. for example, our withholding table don't have to get change order january 1. even if you haven't struck a deal, you don't adjust the withholding tables. for now you can delay the pain. so there is wiggle room in terms of when the impact has to be felt. >> but is there where...